2010 990

2.4 MB·English

See a Social Security Number? Say Something!
Report Privacy Problems to https://public.resource.org/privacy
Or call the IRS Identity Theft Hotline at 1-800-908-4490
990-PF. Return of Private Foundation OMS No 1545-0052
Form
or Section 4947(a)(1) Nonexempt Charitable Trust
2010
Treated as a Private Foundation
Department of the Treasury
Internal Revenue Serv1ce Note The foundatiOn may be able to use a copy of thts return to sattsfy state reporttng reqUirements.
For calendar year 2010, or tax year beginning JUL 1, 2 01 0 , and ending JUN 3 0 , 2 0 11
D D
G Check all that apply: D lm!lal return lntllal return of a former public chanty Fmal return
D D
D Amended return Address change Name change
Name of foundation A Employer identtflcation number
MUSK FOUNDATION 77-0587507
Number and street {or P 0 box number 1f mall IS not delivered to street address) !;;~SUite B Telephone number
11075 SANTA MONICA BLVD. (310) 473-7575
Ctty or town, state, and ZIP code C If exempt•on apphcatron •s pendrng, check here ~D
LOS ANGELES, CA 90025 D 1 Foretgn organtzatlons, check here ~D
H Check type of orgamzallon: [X] Section 501(c)(3) exempt pnvate foundation 2. Fchoerectkg nh eorreg aannrdz aahttoancsh mcoeemtrpnugt atthioen 8 5% test, ~D
D D
Section 4947(a)( 1) nonexempt chantable trust Other taxable pnvate foundatton
I Fatr market value of all assets at end of year J Accountmg method: [X] Cash D Accrual E uIf npdnevra stee cftoiounn d5a0t7io(nb )s( t1a) t(uAs) ,w cahse ctekr mhe mrea ted ~ D
D
(from Part II, col (c), /me 16) Other (spectfy) F If the foundation ts m a 60-month termmattonD
~$ 463 494. (Part I, column (d) must be on cash bas1s) under sectiOn 507(b)(1 B), check here ~
Part II Analysis of Revenue and Expenses (a) Revenue and (b) Net tnvestment (c) Ad1usted net (d) Disbursements
(The total of amounts 1n columns (b), (c), and (d) may not expenses per books mcome mcome for charrtable purposes
necessartly equal the amounts 1n column (a)) (cash bas1s only)
1 Contnbutlons, gtlts, grants, etc., recetved N/A
2 Check~ [X] 1f the foundatiOn IS not requtred to attach Sch B
3 cInatsehre Isntv oens tsmaevnrntsg s and temporary 297. 297. STATEMENT 2
4 Dtvtdends and mterest from securtttes 8 536. 8 536. STATEMENT 3
5a Gross rents
b Net rental mcome or (loss)
Sa Net ga1n or (loss) from sale of assets not on hne 10 305,252. STATEMENT 1
C:PI b Gross sales pnce for all 1[086[121.
r:: assets on line 6a
aCC>:PP 7 Cap1tal gam net 1ncome (from Part IV, line 2) 564 493.
8 Net short-term capttal gam
9 Income modtftcattons ;
10a ~~~s~~~~~:~s returns I
En
bc LGersass Copsrto oftft ~rl ( ~t :I Vn t-. Ur-..
11
Othe 7Jdme I~
12 Total.~ d ltnes ~tqro})giHQ017 314 085. 573 326.
13 ComJ~ton of officers, d11e~tors, trust".:fe@ 0. 0. 0.
1145 POethne oenm P .IlJnoJ'. l~eb=1 eJsee:. ~ti 1nJet·t~:· ..· J. _ ,;";. .".·," _I
II)
CP 16a Legal fees
II)
Cr:P: b Accountmg fees STMT 4 13 200. 6,600. 6,600.
.wQ).( . c Other professtonal fees STMT 5 3,515. 3,515. 0.
C>P 17 Interest
.r.a.. 18 Taxes STMT 6 365. 320. 45.
u;
·c: 19 Deprectatton and depletton
·e
20 Occupancy
'C
< 21 Travel, conferences, and meettngs
'C
r:: 22 Prtnttng and publtcattons
ra
Cl 23 Other expenses STMT 7 330. 131. 199.
r::
.;.r:.a:..: 24 Total operating and administrative
CP expenses Add lines 13 through 23 17 410. 10,566. 6 844.
Q.
0 25 Contrtbuttons, gtfts, grants patd 859 038. 859 038.
26 Total expenses and disbursements
Add lines 24 and 25 876 448. 10 566. 865 882.
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements <562 363. >
b Net investment income (If negative, enter ·0·) 562,760.
C Adjusted net income (1f negat1ve, enter -O·) N/A
~~~g?.\o LHA For Paperwork Reduction Act Notice, see the instructions Form 990-PF (2010)
1
09420202 738501 13700-050 2010.05041 MUSK FOUNDATION 13700-11
11
1
Form 990-PF (2010) MUSK FOUNDATION 77-0587507 Page 2
I Attached schedules and amounts rn the descnpbon Begrnnrng of year End of year
Part 11 ] Balance Sheets
column should be for end-of-year amounts only
(a) Book Value (b) Book Value (c) Farr Market Value
1 Cash -non-rnterest-bearrng 3 020. 35. 35.
2 Savrngs and temporary cash rnvestments 173 325. 255 359. 255 359.
3 Accounts recervable ~
Less: allowance for doubtful accounts ~
4 Pledges recervable ~
Less: allowance for doubtful accounts ~
5 Grants recervable
6 Recervables due from offrcers, drrectors, trustees, and other
drsqualifred persons
7 Other notes and loans recervable ~
Less: allowance for doubtful accounts ~
.I.J..I 8 lnventorres tor sale or use
Q)
IJI 9 Prepard expenses and deferred charges
<IJI
10a Investments-U.S. and state government obligatrons
b Investments-corporate stock STMT 8 823 150. 181 738. 208,100.
c Investments-corporate bonds
11 Investments ·land, burldmgs, and equrpment basrs
Less accumulated deprwatron
12 Investments-mortgage loans
13 Investments-other
14 Land, burldrngs, and equrpment: basrs ~----------1
Less accumulated deprecratron ~
15 Other assets (descrrbe ~--------------) 1---------1---------1---------
16 Total assets (to be com~leted by_ all filers) 999 495. 437 132. 463,494.
17 Accounts payable and accrued expenses
18 Grants payable '</ y~:~At-: ~
1---------1----------1 ... '
~IQJ)I 2109 LDoeafnesr rferodm r eofvfiecneruse, d1rectors, trustees, and other d1squahfied persons r---------r--------~0 .~/: ~ t l
:c 21 Mortgages and other notes payable •Y, ; •. ·,,
::(:IiI '
22 Other liabrlrtres (d escrrbe ~ ______________________) r-------------~----------------1 .;,' ::;/;~ " ~
·; <
23 Total liabilities (add lines 17 throuah 22l 0. 0.
../ ~;-
Foundations that follow SFAS 117, check here ;''/
j ~ $$ ~
~IJI 24 Uanndre csotrmrcpteledt e lines 24 through 26 and lines 30 and 31. .",'. f.'.P, i ' 0
'
(1I:I 25 Temporarrly restrrcted . '
iii
1:0 26 Permanently restrrcted
"C
u1:.:.:I Foundations that do not follow SFAS 117, check here '
and complete lines 27 through 31.
5IJI 27 Caprtal stock, trust prrncrpal, or current funds 0. 0. v :::..-.~ ... -,;::;h~ ---~. --- '·
N 28 Pard-rn or caprtal surplus, or land, bldg., and equrpment fund 0. 0. .
<.I.J..I 29 Retarned earnrngs, accumulated rncome, endowment, or other funds 999 495. 437,132. "
~ 30 Total net assets or lund balances 999 495. 437,132.
31 Total liabilities and net assets/lund balances 999 495. 437 132.
I I
Part Ill Analysis of Changes m Net Assets or Fund Balances
1 Total net assets or fund balances at begrnnrng of year-Part II, column (a), lrne 30
(must agree wrth end-of-year frgure reported on prror year's return) 1 999,495.
2 Enter amount from Part I, line 27a 2 <562,363. >
o.
3 Other rncreases not rncluded rn lrne 2 (rtemrze) ~ 3
4 Add lines 1, 2, and 3 4 437 132.
5 Decreases not rncluded rn line 2 (rtemrze) ~ 5 0.
6 Total net assets or fund balances at end of year (lrne 4 mrnus line 5)-Part II column (b), line 30 6 437 132.
Form 990-PF (2010)
023511
12-07-10
2
09420202 738501 13700-050 2010.05041 MUSK FOUNDATION 13700-11
Form 990-PF (2010) MUSK FOUNDATION 77-0587507 Page 3
I Part IV I Capital Gains and Losses for Tax on Investment Income
(a2)· sLt1osrt ya nbdn cdke wscanrbeeh otuhese k; mord (cso) momf porno psetortcyk ,s o2l0d0 ( esh.gs,. rMeaLlC e Cstoa.t)e , (bD~H--PoDuwor canhcaqatiUosneire d (c ~m Doa,te d aacyq, Uyrir.e) d ((md)o .D, adtaey s, oyldr)
1a
b SEE ATTACHED STATEMENT
c
d
e
(e) Gross sales pnce (f) Depreciation allowed (g) Cost or other bas1s (h) Gam or (loss)
(or allowable) plus expense of sale (e) plus (f) mmus (g)
a
b
c
d
e 1 086,121. 521 628. 564,_493.
Complete only for assets show1ng gam 1n column (h) and owned by the foundation on 12/31/69 (I) Gams (Col. (h) gam mmus
col. (k), but not less than -0-) or
(j) Ad1usted bas1s (k) Excess of col. (1)
(i) F.M.V. as of 12/31/69 as of 12/31/69 over col. (j), 1f any Losses (from col. (h))
a
b
c
d
e 564 493.
}
{ If gam, also enter 1n Part I, line 7
2 Cap1tal gam net mcome or (net cap1talloss) If (loss), enter -0-1n Part I, lme 7 2 564 493.
3 Net short-term cap1tal gam or (loss) as def1ned 1n sections 1222(5) and (6):
}
If gam, also enter 1n Part I, line 8, column (c).
N/A
If llossl. enter -0-1n Part I line 8 3
1 Part V 1 Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic pnvate foundations subject to the sect1on 4940(a) tax on net mvestment mcome.)
If section 4940(d)(2) applies, leave th1s part blank.
CXJ
Was the foundation liable for the section 4942 tax on the d1stnbutable amount of any year 1n the base penod? DYes No
If "Yes," the foundation does not qualify under section 4940(e). .D o not complete th1s part.
1 Enter the appropnate amount 1n each column for each year· see InStructions before making any entnes
Base pe(nao) d years (b) (c) D1stnbu(dtl)o n ratio
Calendar year-(or tax year begmmng In) Adjusted qualifying d1stnbut10ns Net value of nonchantable-use assets (col. (b) d1v1ded by col. (c))
2009 368 326. 1 304,473. .282356
2008 405,292. 1 540,635. .263068
2007 604,259. 2 542,359. .237677
2006 176,993. 2,862 686. .061828
2005 181 650. 3,034 967. .059852
2 Total of line 1, column (d) 2 .904781
3 Average d1stnbutlon ratio for the 5-year base penod -d1v1de the total on Im e 2 by 5, or by the number of years
the foundation has been 1n ex1stence 1f less than 5 years 3 .180956
4 Enter the net value of nonchantable-use assets for 2010 from Part X, line 5 4 824 704.
5 Multiply lme 4 by line 3 5 149 235.
6 Enter 1% of net Investment mcome (1% of Part I, line 27b) 6 5 628.
7 Add lines 5 and 6 7 154,863.
8 Enter qualifying d1stnbut1ons from Part XII, line 4 8 865,882.
If line 8 IS equal to or greater than lme 7, check the box m Part VI, line 1b, and complete that part usmg a 1% tax rate.
See the Part VI Instructions.
023521 12-07-10 Form 990-PF (2010)
3
09420202 738501 13700-050 2010.05041 MUSK FOUNDATION 13700-11
Form 990-PF (2010) MUSK FOUNDATION 77-0587507 Page 4
I Part VII Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948 - see instructions)
D
1a Exem~t operatmg foundations descnbed 1n sect1on 4940(d)(2), check here ~ and enter 'N/A' on line t
Date of rulmg or determmat1on letter: (attach copy of letter if necessary-see mstructions) }
b DomestiC foundations that meet the section 4940(e) reqUirements 1n Part V, check here ~[][]and enter 1% 1 5 628.
of Part I, line 27b
c All other domestiC foundations enter 2% of line 27b_ Exempt fore1gn organ1zat1ons enter 4% of Part I, lme 12, coL (b)-
0.
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundatiOns only_ Others enter -0-) 2
5,628.
3 Add lines 1 and 2 3
4 Subtitle A (mcome) tax (domestic sect1on 4947(a)(1) trusts and taxable foundations only_ Others enter -0-) 4 0.
5 Tax based on investment income_ Subtract line 4 from lme 3_ If zero or less, enter -0- 5 5,628.
6 Credits/Payments:
1,821.
a 2010 est1mated tax payments and 2009 overpayment cred1ted to 2010 Sa
b Exempt fore1gn orgamzat1ons-tax Withheld at source 6b
c Tax pa1d w1th application for extension of t1me to f1le (Form 8868) 6c 7,000.
d Backup Withholding erroneously Withheld 6d
7 Total cred1ts and payments_ Add lmes 6a through 6d 7 8 821.
D
8 Enter any penalty for underpayment of est1mated tax_ Check here 1f Form 2220 IS attached 8
9 Tax due_ If the total of lines 5 and 8 IS more than line 7, enter amount owed ~ 9
10 Overpayment If lme 7 IS more than the total of lmes 5 and 8, enter the amount overpaid ~ 10 3,193.
11 Enter the amount of lme 10 to be: Credited to 2011 estimated tax ~ 3 , 19 3 .I Refunded~ 11 0.
I Part VIl-A l Statements Regarding Activities
1a Durmg the tax year, did the foundation attempt to Influence any national, state, or local legislation or d1d 11 partiCipate or mtervene 1n Yes No
any political campa1gn? 1a X
b D1d 11 spend more than $100 dunng the year (81ther directly or Indirectly) for political purposes (see mstructlons for def1nll1on)? 1b X
If the answer ts "Yes" to 1a or 1b, attach a detatled descnptton of the acttvtttes and coptes of any matenals publtshed or
dtstnbuted by the foundatton m connectton wtth the acttvtttes
c D1d the foundation f1le Form 1120-POL for thiS year? 1c X
d Enter the amount (If any) of tax on political expenditures (section 4955) 1mposed dunng the year:
(1) On the foundation_ ~ $ 0. (2) On foundation managers_ ~ $ 0.
e Enter the reimbursement (If any) pa1d by the foundation dunng the year for political expenditure tax 1m posed on foundation
managers_ ~ $ 0.
2 Has the foundation engaged 1n any act1v1t1es that have not prev1ously been reported to the IRS? 2 X
If "Yes," attach a detatled descnpt10n of the acttvtttes
3 Has the foundation made any changes, not previously reported to the IRS, m 1ts governmg mstrument, art1cles of 1ncorporat1on, or
bylaws, or other s1m1lar mstruments? If "Yes," attach a conformed copy of the changes 3 X
4a Did the foundation have unrelated busmess gross mcome of $1,000 or more dunng the year? 4a X
b If "Yes," has 11 f1led a tax return on Form 990-T for th1s year? N/A 4b
5 Was there a liqu1dat1on, termmat10n, dissolutiOn, or substantial contraction durmg the year? 5 X
If "Yes," attach the statement reqwred by Generallnstructton T
6 Are the reqUirements of sectiOn 508(e) (relatmg to sectiOns 4941 through 4945) sat1sf1ed e1ther:
• By language 1n the governing Instrument, or
• By state leg1slat1on that effectively amends the governmg mstrument so that no mandatory d1rect1ons that conflict w1th the state law
remam m the govermng mstrument? 6 X
7 D1d the foundatiOn have at least $5,000 1n assets at any t1me dunng the year? 7 X
If "Yes," complete Part II, co/_ (c), and Part XV
Sa Enter the states to wh1ch the foundation reports or w1th wh1ch 11 IS reg1stered (see mstruct1ons) ~
CA
b If the answer IS "Yes' to line 7, has the foundation furmshed a copy of Form 990-PF to the Attorney General (or des1gnate)
of each state as reqUired by Generallnstructton G? If "No," attach explanatton Bb X
9 Is the foundatiOn cla1mmg status as a pnvate operatmg foundation w1thm the meanmg of section 4942(J)(3) or 4942(J)(5) for calendar
year 2010 or the taxable year begmmng 1n 2010 (see mstructlons for Part XIV)? If "Yes," complete Part XIV 9 X
10 Old any persons become substantial contnbutors dunno the tax year? If "Yes. attach a schedule llstma therr names and addresses 10 X
Form 990-PF (2010)
023531
12-07-10
4
09420202 738501 13700-050 2010.05041 MUSK FOUNDATION 13700-11
I
Form 990-PF (2010) MUSK FOUNDATION 77-0587507 Page 5
I I
Part VIl-A Statements Regarding Activities (contmued)
11 At any't1me dunng the year, d1d the foundation, directly or Indirectly, own a controlled ent1ty w1thm the meamng of
sect1on 512(b)(13)? If "Yes," attach schedule (see Instructions) 11 X
12 D1d the foundation acqu1re a d1rect or 1nd1rect 1nterest 1n any applicable msurance contract before
August 17, 2008? 12 X
13 01d the foundation comply w1th the public mspectlon reqUirements for 1ts annual returns and exemptiOn application? 13 X
Webs1te address~ WWW. MUSKFOUNDATION. ORG
14 The books are 1n care of ~ ELON MUSK Telephone no.~ ( 310 ) 4 7 3 -7 57 5
Located at~ 11075 SANTA MONICA BLVD. STE 150 LOS ANGELES CA ZIP+4 ~.::..9-=c0....:::0-=2:..=5:...___-c==,
1 1 D
15 Section 4947(a)(1) nonexempt chantable trusts f11ing Form 990-PF 1n lieu of Form 1041 ·Check here ~
and enter the amount of tax-exempt Interest rece1ved or accrued dunng the year ~ IL....:1~5_J__I ___. =.:N:,.:I-:A=-.-:--:-
16 At any t1me dunng calendar year 2010, d1d the foundation have an 1nterest 1n or a Signature or other authonty over a bank, Yes No
secunt1es, or other fmanc1al account 1n a fore1gn country? 16 X
See page 20 of the mstruct1ons for exceptions and f1l1ng reqUirements for Form TO F 90-22.1. If "Yes,' enter the name of
the fore1on countrv~
LP art VII-B I Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies. Yes No
1a Dunng the year d1d the foundatiOn (either directly or 1nd1rectly):
00
(1) Engage 1n the sale or exchange, or leasmg of property w1th a disqualified person? DYes No
(2) Borrow money from, lend money to, or otherw1se extend cred1t to (or accept 11 from)
00
a disqualified person? DYes No
00
(3) Furn1sh goods, serv1ces, or fac11il1es to (or accept them from) a disqualified person? Yes D No
00
(4) Pay compensation to, or pay or reimburse the expenses of, a d1squalif1ed person? DYes No
(5) Transfer any mcome or assets to a disqualified person (or make any of e1ther available
00
for the benefit or use of a d1squalif1ed person)? DYes No
(6) Agree to pay money or property to a government off1c1al? (Exception Check "No"
1f the foundation agreed to make a grant to or to employ the off1c1al for a penod after
CXJ
termmatlon of government serv1ce, 1f termmatmg w1thm 90 days.) DYes No
b If any answer IS ''Yes" to 1a( 1) ·(6), d1d any of the acts fa11 to qualify under the exceptions descnbed 1n Regulations
section 53.4941(d)·3 or 1n a current not1ce regarding disaster ass1stance (see page 22 of the mstruct1ons)? 1b X
Organ1zat1ons rely1ng on a current not1ce regarding d1saster ass1stance check here
c D1d the foundation engage 1n a pnor year 1n any of the acts descnbed 1n 1a, other than excepted acts, that were not corrected
before the f1rst day of the tax year beg1nn1ng 1n 2010? 1c X
2 Taxes on failure to d1stnbute mcome (section 4942) (does not apply for years the foundation was a pnvate operatmg foundation
def1ned 1n section 4942())(3) or 4942())(5)):
a At the end of tax year 2010, did the foundation have any und1stnbuted 1ncome (lines 6d and 6e, Part XIII) for tax year(s) begmn1ng
CXJ
before 2010? D Yes No
lf"Yes,'llsttheyears~------- , _______ , _______ , _______
b Are there any years listed 1n 2a for wh1ch the foundation IS not applying the prov1s1ons of section 4942(a)(2) (relatmg to Incorrect
valuation of assets) to the year's und1stnbuted 1ncome? (If applying section 4942(a)(2) to all years listed, answer 'No" and attach
statement· see mstruct1ons.) N/A 2b
c .I.f .t he prov1s1ons of sect1on 4942(a)(2) are bemg applied to any of the years listed 1n 2a, list the years here.
, ' ,
3a D1d the foundation hold more than a 2% d1rect or md1rect mterest 1n any bus1ness enterpnse at any t1me
D 00
dunng the year? Yes No
b If "Yes,' d1d 11 have excess busmess holdings 1n 2010 as a result of ( 1) any purchase by the foundation or d1squallf1ed persons after
May 26, 1969; (2) the lapse of the 5-year penod (or longer penod approved by the CommiSSioner under section 4943(c)(7)) to d1spose
of holdmgs acqUired by g1ft or bequest; or (3) the lapse of the 10·, 15·, or 20-year f1rst phase holding penod? (Use Schedule C,
Form 4 720, to determme 1f the foundation had excess busmess holdmgs m 20 10) N /A 3b
4a D1d the foundation mvest dunng the year any amount 1n a manner that would 1eopard1ze 1ts chantable purposes? 4a X
b D1d the foundation make any mvestment 1n a pnor year (but after December 31, 1969) that could Jeopardize 1ts chantable purpose that
had not been removed from Jeopardy before the first day of the tax year begmnmg 1n 201 O? 4b X
Form 990-PF (2010)
023541
12-07-10
5
09420202 738501 13700-050 2010.05041 MUSK FOUNDATION 13700-11
F!irm 990-P~ (2010) MUSK FOUNDATION 7 7-0 58 7 50 7 Page 6
I I
Part VII-B Statements Regarding Activities for Which Form 4720 May Be Required (contmued)
Sa Dunng the year dtd the foundatton pay or mcur any amount to:
CXJ
(1) Carry on propaganda, or otherwtse attempt to mfluence legtslatton (sectton 4945(e))? DYes No
(2) Influence the outcome of any spectftc public electton (see section 4955); or to carry on, dtrectly or tndtrectly,
CXJ
any voter regtstratton dnve? DYes No
(3) Provtde a grant to an tndtvtdual for travel, study, or other stmtlar purposes? DYes [X] No
( 4) Provtde a grant to an orgamzatlon other than a chantable, etc., orgamzatlon descnbed m section
CXJ
509(a)(1), (2), or (3}, or section 4940(d)(2)? DYes No
(5) Provtde for any purpose other than reltgtous, chantable, sctenttflc, ltterary, or educational purposes, or for
CXJ
the prevention of cruelty to chtldren or ammals? DYes No
b If any answer ts "Yes" to 5a( 1) -(5), dtd any of the transacttons fat I to qualify under the exceptions descnbed m Regulations
section 53_4945 or m a current notice regardtng dtsaster asststance (see mstructlons)? N/A 5b
Orgamzattons relytng on a current notice regardmg dtsaster asststance check here ~D
c If the answer ts "Yes" to questiOn 5a(4}, does the foundatton clatm exemptton from the tax because tl mamtamed
expendtture responstbtlity for the grant? N /A DYes D No
If "Yes," attach the statement reqwred by RegulatiOns sectton 53 4945-S(d).
Sa Otd the foundatton, durmg the year, recetve any funds, dtrectly or mdtrectly, to pay premtums on
CXJ
a personal beneftt contract? DYes No
b Dtd the foundatton, dunng the year, pay premtums, dtrectly or mdtrectly, on a personal beneftt contract? 6b X
If "Yes" to 6b, ftle Form 8870
CXJ
7a At any ttme dunng the tax year, was the foundation a party to a prohtbtled tax shelter transaction? DYes No
b If "Yes· dtd the foundatton recetve any proceeds or have any net tncome attnbutable to the transaction? N/A 7b
I
I Part VIII lnf~rmat1on About Officers, Directors, Trustees, Foundation Managers, H1ghly
- - Pa1d Employees, and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation.
(b) Tille, and average (c) Compensatton (dj Contnbubons to (e) Exr.ense
(a) Name and address hours per week devoted (If not pa~~· emp oaynede dbeefenrerefidt plans accoun , other
to postlton enter -0- compensabon allowances
ELON MUSK PRESIDENT & DIRECTOR
11075 SANTA MONICA BLVD. STE 150
LOS ANGELES CA 90025 1.00 0. 0. 0.
KIMBAL MUSK SECRETARY, TR IEASURER & DIR
11075 SANTA MONICA BLVD. STE 150
LOS ANGELES, CA 90025 1. 00 0. 0. 0.
2 Compensatton of ftve htghest-patd employees (other than those mcluded on hne 1) If none enter "NONE "
I
(b) Tille, and average (dj Contnbuuons to (e) Exr.ense
(a) Name and address of each employee patd more than $50,000 hours per week (c) Compensalton emp oaynede dbeefenrerefidt plans accou n , other
devoted to posttton compensabon allowances
NONE
Total number of other employees.Q.atd over_$50 000 .... I 0
Form 990-PF (2010)
023551
12-07-10
6
09420202 738501 13700-050 2010.05041 MUSK FOUNDATION 13700-11
Form990-PF{2010) MUSK FOUNDATION 77-0587507 Page7
I
I Part VIII lnf~rmation About Officers, Directors, Trustees, Foundation Managers, Highly
. . Pa1d Employees, and Contractors (contmued)
3 Five h1ghest-pa1d independent contractors for professional serv1ces. If none, enter "NONE."
(a) Name and address of each person pa1d more than $50,000 (b) Type of serv1ce (c) Compensation
NONE
Total number of others rece1v1na over $50 000 for orotess1onal serv1ces ~ 0
I I
Part IX-A Summary of Direct Charitable Activities
L1st the foundation's four largest d1rect chantable activities dunng the tax year. Include relevant stallsllcallnformatlon such as the
Expenses
number of orgamzallons and other benef1c1anes served, conferences convened, research papers produced, etc.
1 N/A
2
3
4
I I
Part IX-B Summary of Program-Related Investments
Descnbe the two largest program-related Investments made by the foundation durmg the tax year on lines 1 and 2. Amount
1 N/A
2
All other program-related mvestments. See mstruct1ons.
3
Total. Add lines 1 throuQh 3 ~ 0.
Form 990-PF {2010)
023561
12-07-10
7
09420202 738501 13700-050 2010.05041 MUSK FOUNDATION 13700-11
Form 990-PF (2010) MUSK FOUNDATION 77-0587507 Page 8
I .I
Part X Minimum Investment Return (All domest1c foundations must complete th1s part Fore1gn foundations, see 1nstruct1ons)
1 Fa1r market value of assets not used (or held for use) directly m carrymg out chantable, etc., purposes:
a Average monthly fa1r market value of secunt1es 1a 569 297.
b Average of monthly cash balances 1b 267 966.
c Fa1r market value of all other assets 1c
d Total (add lmes 1a, b, and c) 1d 837 263.
e Reduct1on cla1med for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) I 1e I 0.
2 Acqu1s1t1on mdebtedness applicable to line 1 assets 2 0.
3 Subtract Im e 2 from Im e 1d 3 837 263.
4 Cash deemed held for chantable ac11v1t1es. Enter 1 1/2% of lme 3 (for greater amount, see mstructlons) 4 12 559.
5 Net value of noncharitable-use assets. Subtractlme 4 from line 3. Enter here and on Part V, line 4 5 824 704.
6 Minimum mvestment return Enter 5% of line 5 6 41 235.
I Part XI 1 D1stnbutable Amount (see 1nstruct1ons) (Sect1on 4942(j)(3) and (j)(5) pnvate operatmg foundations and certam
D
'-------'· fore1gn orgamzatlons check here .... and do not complete th1s part )
1 M1n1mum mvestment return from Part X, Im e 6 1 41,235.
2a Tax on mvestmentmcome for 2010 from Part VI, lme 5 1 2a 1 5 628.
I I
b Income tax for 2010. (Th1s does not mclude the tax from Part VI.) 2b
c Add lmes 2a and 2b 2c 5 628.
3 D1stnbutable amount before adjustments. Subtract line 2c from lme 1 3 35,607.
4 Recovenes of amounts treated as qualifymg d1stnbut1ons 4 0.
5 Add lines 3 and 4 5 35,607.
6 Deduction from d1stnbutable amount (see Instructions) 6 0.
7 Distributable amount as adJusted. Subtract line 6 from lme 5. Enter here and on Part XIII line 1 7 35 607.
I I
Part XII Qualifying Distributions (see 1nstruct1ons)
1 Amounts pa1d (mcludmg admm1strat1ve expenses) to accomplish chantable, etc., purposes:
a Expenses, contnbut1ons, g11ts, etc.-total from Part I, column (d), line 26 1a 865,882.
b Program-related Investments-total from Part IX-8 1b 0.
2 Amounts pa1d to acqUire assets used (or held for use) directly m carrymg out chantable, etc., purposes 2
3 Amounts set as1de for spec1flc chantable projects that sat1sfy the:
a Su1tab11ity test (pnor IRS approval reQUired) 3a
b Cash d1stnbut10n test (attach the reqUired schedule) 3b
4 Qualifying distributions Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, lme 4 4 865,882.
5 Foundations that qualify under section 4940(e) for the reduced rate of tax on net mvestment
mcome. Enter 1% of Part I, line 27b 5 5 628.
6 Adjusted qualifying distnbutions Subtract lme 5 from lme 4 6 860 254.
Note. The amount on line 6 Will be used m Part V, column (b), m subsequent years when calculatmg whether the foundation qualifies for the sect1on
4940(e) reduct1on of tax m those years.
Form 990-PF (2010)
023571
12·07-10
8
09420202 738501 13700-050 2010.05041 MUSK FOUNDATION 13700-11
Form990-PF(2010) MUSK FOUNDATION 77-0587507 Page 9
I Part XIIJ I Undistributed Income (see 1nstruct1ons)
(a) (b) (c) (d)
Corpus Years pnor to 2009 2009 2010
1 D1stnbutable amount for 2010 from Part XI,
line 7 35 607.
2 Und1str•buted mcome, 1f any, as of the end of 2010
a Enter amount for 2009 only 0.
b Total for pnor years:
0.
--- ' --- ' ---
3 Excess d1stnbut1ons carryover, 1f any, to 2010:
a From 2005 10,582.
b From 2006 35,279.
c From 2007 492,993.
d From 2008 328,428.
e From 2009 303 194.
f Total of lines 3a through e 1 170 476.
4 Oual1fymg d1stnbut1ons for 2010 from
Part XII, line 4: ~ $ 865 882.
a Applied to 2009, but not more than line 2a 0.
b Applied to und1stnbuted mcome of pnor
years (Election requ1red-see 1nstruct10ns) 0.
c Treated as d1stnbut1ons out of corpus
(Election requ1red -see mstructlons) 0.
d Applied to 2010 d1stnbutable amount 35 607.
e Remammg amount d1stnbuted out of corpus 830,275.
5 Excess d1stnbut1ons carryover applied to 2010 0. 0.
(If an amount appears 1n column (d), the same amount
must be shown 1n column (a))
,,
6 Enter the net total of each column as 'i
indicated below: '
a Corpus Add lines 31, 4c, and 4e Subtract line 5 2 000,751.
b Pnor years' und1stnbuted mcome. Subtract
line 4b from line 2b 0.
cEnter the amount of pnor years'
und1stnbuted mcome for whiCh a not1ce of
def1c1ency has been 1ssued, or on wh1ch '
'·,
the sect1on 4942(a) tax has been previously
assessed 0.
d Subtract line 6c from Im e 6b. Taxable
o.
amount -see mstruct10ns
e Und1stnbuted mcome for 2009. Subtract line
4a from line 2a. Taxable amount-see mstr. 0.
f Und1stnbuted mcome for 2010. Subtract ,-' ·-
lmes 4d and 5 from !me 1. Th1s amount must
be d1stnbuted m 2011 0.
7 Amounts treated as d1stnbut1ons out of
corpus to sat1sfy requirements 1mposed by
section 170(b)(1)(F) or 4942(g)(3) 0.
B Excess d1stnbut1ons carryover from 2005
not applied on line 5 or Im e 7 10 582.
9 Excess distnbutions carryover to 2011.
Subtract lines 7 and 8 from line 6a 1,990 169.
10 Analysis of line 9:
a Excess from 2006 35 279.
b Excess from 2007 492 993.
c Excess from 2008 328 428.
d Excess from 2009 303 194.
e Excess from 20 10 830 275.
Form 990-PF (2010)
023561
12-07-10
9
09420202 738501 13700-050 2010.05041 MUSK FOUNDATION 13700-11